Friday, December 20, 2013

The Case for Valuing Natural Capital

When I think of the mega corporations I'm reminded of Popes. Usually they just get on your nerves but, every now and then, you might get a Pope Francis. Every now and then something progressive manages to leak out of the corporate boardrooms such as this video produced by the World Business Council for Sustainable Development entitled the "Pitch for Nature.".

Part of the movement behind a transition to "steady state" economics is to accept economics as a subset of the environment. The economy cannot grow beyond the limits of the environment, our one and only biosphere. The environment belongs to mankind, not to corporations. In a steady state economy, natural capital is valued and priced. Corporations pay the public for what they have been taking freely that belongs to the public. Yes they may pass along part or even all of that cost to the consumer but that doesn't matter because they've already paid that amount into the public purse and, having done so, they have a powerful financial disincentive to waste resources and to pollute them.

It's not a matter of choice, Lorne, but of necessity. We have not properly valued natural capital because we considered it abundant and difficult if not impossible to price. However that all changes when you begin to run out of commodities such as fresh water. A value may be fixed for something in another part of the world where that commodity is in short supply and at least part of that value is recognized where that product is in abundance.

perhaps it is time for ms. may to become prime minister. stevie simply isn't doing his job. people aren't enamored with Trudeau the younger or Mulcair, so lets give someone who might be interested in the enviornment a chance. who knows she might figure out a way to improve the job situation in canada.

Short of some sort of proportional representation reform, the Greens will be lucky to hang onto their second seat in the next election. May would shut down the whole thing now if only the Liberals would adopt Green environmental policies but they won't and neither will the NDP. Parliament is a bucket shop.